https://www.taxtmi.com/caselaws?id=244438 The High Court ruled in favor of the appellant, holding that Rule 8D of the Income Tax Rules cannot be applied retrospectively. The Court rejected the remand request to the Assessing Officer and directed the Tribunal to reconsider the case based on the Court's interpretation. The Tribunal's jurisdiction to adjudicate the legality and validity of Rule 8D was affirmed, emphasizing the need for consistency in the department's views on the retrospective nature of the rule. The disallowance under Section 14A for specific assessment years was also addressed, with the Tribunal's decision being challenged and remanded for reconsideration. en-us Fri, 07 Feb 2014 00:00:00 +0530 Wed, 26 Feb 2014 08:18:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244438 The High Court ruled in favor of the appellant, holding that Rule 8D of the Income Tax Rules cannot be applied retrospectively. The Court rejected the remand request to the Assessing Officer and directed the Tribunal to reconsider the case based on the Court's interpretation. The Tribunal's jurisdiction to adjudicate the legality and validity of Rule 8D was affirmed, emphasizing the need for consistency in the department's views on the retrospective nature of the rule. The disallowance under Section 14A for specific assessment years was also addressed, with the Tribunal's decision being challenged and remanded for reconsideration. Case-Laws Income Tax Fri, 07 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244438